Nigerian Cleantech Startup SunFi Raises USD 2.3 M Seed Funding

SunFi, the Nigerian clean tech startup that connects people and businesses who want solar energy access to payment plans that match their needs, has raised USD 2.325 M in seed funding. The round was led by Factor[e] and SCM Capital Asset Management, with participation from Voltron Capital, Norrsken Impact Accelerator, Ventures Platform and Sovereign Capital.

The Nigeria-based energy company provides customers with two payment methods: a lease to own, where after an initial deposit, customers make payments in installments before owing the solar system, and a subscription model, where customers pay to use the solar system monthly. The clean tech is looking to enhance its platform over the next 12-18 months with this financing and convert more than 4,000 customers within that same time frame as the team continues to grow